Solstice Gold Secures Funding Through Successful Placement Deal

Solstice Gold Completes Successful Private Placement Financing

Solstice Gold Corp. (“Solstice”, “we”, “our”, or the “Company”) is thrilled to announce the successful closing of its private placement financing. This significant financial milestone comes with gross proceeds of approximately $150,000 from the issuance of 6,600,000 shares. This private placement, which was first disclosed on November 13, enables Solstice to enhance its exploration efforts significantly.

Details of the Financing Structure

Under the terms of the offering, Solstice issued 3,600,000 common shares, known as Flow Through Shares, priced at $0.025 each, and 3,000,000 Hard Dollar Shares at $0.02 each. The Flow Through Shares qualify as flow-through shares under the Income Tax Act (Canada), allowing the Company to raise capital while providing certain tax benefits to investors.

The capital raised is earmarked for crucial activities: $90,000 from the Flow Through Shares will directly fund exploration programs qualifying as Canadian Exploration Expenses, while $60,000 from the Hard Dollar Shares will support general corporate purposes and working capital, specifically aimed at advancing projects like the Strathy Gold Property.

Transaction Governance and Related Party Disclosures

The private placement was aligned with exemptions from the prospectus requirements under applicable Canadian securities legislation. Importantly, none of the proceeds from the Offering will be allocated to Non-Arm’s Length Parties, as defined by the policies of the TSX Venture Exchange (TSXV).

Insider participation in this offering amounted to the purchase of 2,800,000 Flow Through Shares and 3,000,000 Hard Dollar Shares, symbolizing approximately $130,000 of the total gross proceeds. These transactions, classified as “related party transactions” under Multilateral Instrument 61-101, were structured to exempt the Company from formal valuation and other minority approval requirements due to the shares' valuation being below a critical threshold.

Exploration Projects and Strategic Vision

Solstice Gold is dedicated to exploring district-scale gold projects, emphasizing quality and responsible development. Their flagship, the Strathy Gold Project, encompasses 41 km² of rich mining land, featuring high-grade gold mineralization across expansive areas. This critical site lies within the Abitibi Subprovince, a historical gold-producing region in Canada.

Qaiqtuq Gold Project Insights

The Qaiqtuq Gold Project is another gem in Solstice’s portfolio, covering 662 km² and known for a remarkable 10 km² high-grade gold boulder field. Located near Rankin Inlet and close to the Meliadine Gold Mine operated by Agnico Eagle Mines Limited, this project represents a significant opportunity and is fully permitted, ready for exploration and drilling activities.

Commitment to Sustainable Exploration

With several projects strategically located near major mining infrastructure, Solstice positions itself for future growth. The Atikokan Gold Project, situated about 26 km from the Hammond Reef Gold Project, adds to the Company's extensive portfolio in well-established mining districts. Moreover, projects like the Red Lake Extension (RLX) and New Frontier offer promising exploration avenues, contributing to a diverse asset base.

Since acquiring an expansive gold and battery metal royalty portfolio in late 2021, Solstice has generated over $2 million in value alongside three new royalties, reinforcing its solid position in the market.

Future Promises and Company Leadership

Committed to sustainable exploration practices, Solstice ensures that all its operations are in harmony with the communities in which it works. The leadership of Solstice is well-equipped to drive these projects forward. David Adamson, the Company's Chairman, brings significant experience from his successful exploration tenure, while Sandy Barham oversees the technical aspects as a Qualified Person under NI 43-101 standards.

Frequently Asked Questions

What are the key details of the private placement financing?

Solstice Gold Corp. closed a private placement financing of 6,600,000 shares for approximately $150,000, aimed at funding exploration initiatives.

How will the funds from the financing be utilized?

Funds will be allocated primarily towards exploration programs qualifying as Canadian Exploration Expenses and for general corporate purposes at the Strathy Gold Property.

Who are the insiders participating in the offering?

Insiders acquired an aggregate of 2,800,000 Flow Through Shares and 3,000,000 Hard Dollar Shares, totaling about $130,000 of the gross proceeds.

What projects does Solstice Gold currently focus on?

Solstice Gold is concentrating on the Strathy Gold Project, the Qaiqtuq Gold Project, and other crucial sites like the Atikokan Gold Project and the Red Lake Extension.

Who is overseeing the technical disclosures for Solstice Gold?

Sandy Barham, M.Sc., P.Geo., serves as the Qualified Person responsible for reviewing and approving technical disclosures related to Solstice Gold's operations.

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